Registered disability savings plan (RDSP)
A registered disability savings plan (RDSP) is a savings plan that is intended to help parents and others save for the long term financial security of a person who is eligible for the disability tax credit (DTC).
Contributions to an RDSP are not tax deductible and can be made until the end of the year in which the beneficiary turns 59. Contributions that are withdrawn are not included as income to the beneficiary when they are paid out of an RDSP. However, the Canada disability savings grant (grant), the Canada disability savings bond (bond), investment income earned in the plan, and the proceeds from rollovers are included in the beneficiary's income for tax purposes when they are paid out of the RDSP.
RDSP issuers have to deduct income tax from your taxable RDSP payments. For more information, go to Tax deduction at source.
- Eligibility and contributions
Who can become a beneficiary of an RDSP, who can contribute to an RDSP
- RDSP limits, transfers, and rollovers
Contribution limits, conditions for transferring from one RDSP to another, rollovers, rollover reporting, and eligible individuals
- Who can open an RDSP
How to open an RDSP, who can open an RDSP, who can be a holder of the plan
- Cessation of disability or death of a beneficiary
What happens if the beneficiary is no longer eligible for the disability tax credit, what happens if the beneficiary dies
- Payments and rules
Types of payments, when payments are made, how payments are reported, rules when government grants and bonds exceed contributions
- Canada disability savings grant and Canada disability savings bond
Description of grants and bonds, government contribution rates, when repayments of grants and bonds are needed
- Tax payable
Types of investments that are subject to tax, who is liable
Forms and publications
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